Business News

LNG Terminal Developer Crown to Go Public via $685 Million SPAC Deal

Crown LNG Holdings, which develops LNG terminals to operate in harsh weather conditions, has agreed to go public in New York by merging with a blank check firm in a deal that values the combined company at $685 million.

Strathcona to Acquire Rival Pipestone Energy, Forming Canada's 5th-Biggest Oil Company

Canadian oil producer Strathcona Resources on Tuesday said it will go public by acquiring smaller rival Pipestone Energy Corp. in an all-stock deal to create a combined business with a market capitalization of $6.49 billion.

Venezuela Appoints New Gas Vice President at State Company PDVSA

Venezuela has appointed a new vice president at PDVSA who will lead the state company's gas operations, a key move as the South American country negotiates licenses with foreign companies to develop its mostly untapped natural gas reserves.

United Energy, Bridge Energy Partner to Expand LNG Processing Capabilities

(P&GJ) — The strategic partnership aims to leverage the expertise and resources of both companies to expand UNRG’s processing capabilities of LNG and unlock its immense potential as a clean and versatile energy source.

TC Energy to Spin Off Oil Pipeline Business, Focus on Natural Gas

North American pipeline company TC Energy, which has been seeking to sell assets and cut debt, said on Thursday it would spin off its oil pipeline business and focus on transporting natural gas, saying the businesses would be more valuable apart.

Edison's Profit Drops 7% to $207 Million Due to Venture Global's LNG Cargo Delays

Edison said its first-half net profit fell 7% year-on-year to $207 million, dented by a delay in LNG deliveries from the United States. Likewise, Shell and BP have separately filed for arbitration against Venture Global LNG for failing to supply contracted cargoes.

Voyager Midstream Secures Equity Commitment from Pearl Energy Investments

(P&GJ) — Texas-based Voyager Midstream Holdings has secured an initial capital commitment from Pearl Energy Investments to pursue the acquisition and development of crude oil, natural gas, and produced water infrastructure across key North American supply basins.

Associations in the News July 2023

Associations in the News July 2023

Companies in the News July 2023

Companies in the News July 2023

People in the News July 2023

People in the News July 2023

NextDecade Shares Fall 23% as LNG Project Funding Disappoints Investors

NextDecade Corp. shares fell 23% on Thursday on investor worries over the terms of $18.4 billion financing the U.S. LNG developer obtained to go ahead with the long-delayed Phase 1 of Rio Grande LNG export facility.

Berkshire Hathaway to Acquire Dominion Energy’s 50% Stake in Cove Point LNG

(P&GJ) — A unit of Warren Buffett's Berkshire Hathaway announced that it has executed an agreement to purchase Dominion Energy’s 50% limited partnership stake in the Cove Point LNG facility in Maryland's Chesapeake Bay for $3.3 billion in cash.

Reminder: Deadline to Nominate for Midstream Honors Is July 15

(P&GJ) — Pipeline and Gas Journal would like to remind those in midstream that midnight, July 15, is the absolute final deadline to submit nominees for the Gulf Energy Information Excellence Awards.

Energy Income Partners to Vote Against $18.8 Billion ONEOK-Magellan Deal

Asset manager Energy Income Partners LLC, one of the top shareholders in Magellan Midstream Partners, said on Thursday that it intends to vote against pipeline operator ONEOK Inc.'s deal to buy Magellan.

NET Power, Rice Acquisition Merge to Accelerate Clean Natural Gas Power Generation

(P&GJ) — Occidental's president and CEO, Vicki Hollub, expressed confidence in NET Power's transformative technology, stating that it aligns with Occidental's net-zero ambitions by delivering nearly emissions-free power to their Permian Basin operations and upcoming direct air capture sites.

Knight Energy Services Acquires Platinum Pipe Rentals

(P&GJ) — The combined business will have 18 locations across the country, with a fleet of more than 200,000 pieces of rental tools and equipment, including more than 7 million feet of drill pipe and tubing.

Canadian Pipeline Operator TC Energy Announces Staff Layoffs

Canada's TC Energy is cutting some jobs to "optimize value" a company spokesperson said on Tuesday, without giving details of how many positions have been impacted.

Gulf Energy Information Names Andy McDowell as New President

(P&GJ) — Gulf Energy Information (Gulf), a century-old provider of information to the global oil and gas and energy industries, has announced changes to its leadership structure, effective August 1, 2023.

Associations in the News May 2023

Associations in the News May 2023

Companies in the News May 2023

Companies in the News May 2023

People in the News May 2023

People in the News May 2023

BASF Considers Sale of Wintershall Dea

Last week, German chemicals group BASF announced that it was working to exit energy business Wintershall Dea, with a stock market listing remaining the preferred option.

Shale Producer Pioneer's CEO Scott Sheffield to Retire

Sheffield, an energy veteran, served as Pioneer’s founding CEO from 1997 to 2016 and chairman since 1999. He stepped down from the CEO role in 2016 before returning to the helm three years later.

NextEra Energy Q1 Results Boosted by Clean Energy Push

NextEra, which generates more wind and solar energy than any other company in the world, said it is benefiting from a clean energy investment push that has received major public policy support in recent months and given it a buffer against natural gas price swings.

Innovation Accelerates Drive to Sustainability

This week, as we pause to mark Earth Day, it’s worth taking the time to highlight the progress that’s been made in recent years to create a more sustainable world, and to reflect on the challenges that still lie ahead.

Associations in the News April 2023

Associations in the News April 2023

Companies in the News April 2023

Companies in the News April 2023

ConocoPhillips to Pay $500 Million to Raise Stake in Australia's APLNG

ConocoPhillips currently holds a 47.5% stake in APLNG, one of the largest suppliers of natural gas to Australia's East Coast. Origin and China's Sinopec hold the remaining shares in APLNG.

AMPP Conference Takes Aim at Corrosion

(P&GJ) — AMPP’s Annual Conference + Expo at the Colorado Convention Center in Denver has attracted 5,607 attendees involved in the corrosion control industry.

Associations in the News March 2023

Associations in the News March 2023